Wholesale figures point to underlying pick-up in economy
Wholesale trade figures are continuing to rise with the latest data, for the July quarter, showing a 2.2%, or $444 million, increase.
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Wholesale trade figures are continuing to rise with the latest data, for the July quarter, showing a 2.2%, or $444 million, increase.
The bulk of the increase is from the miscellaneous 'other goods wholesaling' sector, which Statistics New Zealand industry and labour statistics acting manager Tehseen Islam described as “a bit of a mixed bag.”
“It includes things like textiles, footwear, pharmaceuticals, and furniture, but no single one of these subgroups drove the overall increase.”
The important thing about the latest figures is they continue an upward trend. Wholesale trade sales have been rising since September 2009 and are up 16.8% over that period.
Basic materials wholesaling have risen 31.1% since June 2009, while machinery and equipment wholesaling are up 15.4% since December 2009. (The starting dates are the points at which the trend began to rise after the economic downturn).
Motor vehicle and parts wholesaling is up 16.8 % but this appears to have been flattening off since December, Statistics New Zealand’s analysis reported this morning.
However, “more data is required to confirm this.”
Grocery, liquor and tobacco products are up 14.6 % since June 2009 and the other goods wholesaling category is up 8.5% since then.
Rob Hosking
Mon, 12 Sep 2011
Mon, 12 Sep 2011
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Wholesale figures point to underlying pick-up in economy
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